Market appetite for fixed income securities remains weakened

Fixed income yield continue to weaken

Market appetite for fixed income securities remains weakened   FGN Bond The FGN bond space market appetite for bonds dampened on Saturday compared to Friday, ending the week on a rather drab note, Analysts at Zedcrest have noted. While rates continue to improve across the curve, market participants remained on the side-lines, cherry-pick on few bonds, particularly the long-dated bond. “We saw a few trades print on the 50s maturities at the 7.50 per cent levels. Despite the less active market, yields compressed by an average of 5 basis points…

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Mixed trends at FX, fixed income markets

Fixed income yield continue to weaken

FX market The naira accelerated its decline against the dollar by N7 to trade at N494 per dollar on Thursday, bringing the week to date depreciation to N11 from N483 per dollar in the parallel market. However, the local currency remained flat and stable at N393.25 per dollar at the I&E FX market. Most participants maintained bids between N383.00 and N395.00 per dollar. Treasury bills Despite the low yield environment prevailing in the NT-Bills market, investors were willing to buy up to N445.94 billion due to the abundant system liquidity…

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